Montreal-based Beyond the Rack announced today that it has reached the 1 Million member mark after only one year in operation. In their press release today they also stated that their extraordinary growth rate has the company on-target to reach an annual run-rate of $100 Million in sales by the this year.
Beyond the Rack is a members-only shopping club offering members the sought after designer brand apparel, accessories, beauty, and home and decor products at up to 70% off retail prices. Beyond the Rack sells its products in the context of a two-day, first come-first served events. Members can expect up to eight new brand events each day, starting at 11:00am EST.
Launched in March 2009, Beyond the Rack has offices in Montreal and New York and a staff of 100 full-time employees.
In January Techvibes reported that the startup had raised $2 Million from Oleg Tscheltzoff and Oliver Jung, and Montreal Start Up bringing their total funding to $4.5 Million.